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Taking a look at what insiders are doing to gauge the Merck & Co Inc (MRK)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Merck & Co Inc shares valued at $492,135,715 were purchased by Merck & Co., Inc. on Mar 11 ’24. At $23.00 per share, Merck & Co., Inc. acquired 21,397,205 shares. The insider’s holdings grew to 1,000 shares worth approximately $0.13 million following the completion of this transaction.

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Also, Davis Robert M sold 85,021 shares, netting a total of over 10,661,574 in proceeds. Following the sale of shares at $125.40 each, the insider now holds 348,327 shares.

Before that, Litchfield Caroline had sold 38,291 shares from its account. In a trade valued at $4,805,520, the EVP & CFO traded Merck & Co Inc shares for $125.50 each. Upon closing the transaction, the insider’s holdings decreased to 38,291 shares, worth approximately $6.4 million.

As published in a research note from Societe Generale on March 11, 2024, Merck & Co Inc [MRK] has been rated down from a Hold to a Sell and the price target has been revised to $104. Analysts at TD Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in early January. As of November 09, 2023, Deutsche Bank has initiated its “Buy” rating for MRK. Earlier on October 27, 2023, BMO Capital Markets upgraded its rating. Their new recommendation was “an Outperform” for MRK stock which previously was a “a Market perform”.

Analyzing MRK Stock Performance

During the last five days, there has been a drop of approximately -4.41%. Over the course of the year, Merck & Co Inc shares have jumped approximately 15.30%. Shares of the company reached a 52-week high of $134.63 on 06/25/24 and a 52-week low of $109.16 on 01/02/24. A 50-day SMA is recorded $129.26, while a 200-day SMA reached $118.06. Nevertheless, trading volume fell to 4.0 million shares from 5.65 million shares the previous day.

Support And Resistance Levels for Merck & Co Inc (MRK)

According to the 24-hour chart, there is a support level at 124.79, which, if violated, would cause prices to drop to 123.72. In the upper region, resistance lies at 127.43. The next price resistance is at 129.00. RSI (Relative Strength Index) is 41.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.93, which suggests the price will decrease in the coming days. Percent R is at 63.81%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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